The following account balances were selected from the records of Blake Corporation at December 31, 2007, after all adjusting entries were completed:

Net income for the year was $28,000. Restriction on retained earnings equal to the cost of treasury stock held is required by law in this state. The stock price is currently $22.43 per share.
Required: 1. Prepare the stockholders' equity section of the balance sheet at December 31, 2007. 2. Compute and evaluate the dividend yield ratio. Determine the number of shares of stock that received dividends.

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Common stock (par $15; authorized 100,000 shares, issued 35,000 shares, of which 1,000 shares are held as treasury stock) $525,000 Capital in excess of par 180,000 Dividends declared and paid in 2007 18,000 Retained earnings, January 1, 2007 Treasury stock at cost (1,000 shares) 76,000 20,000